Sami opened an account with a deposit of $4,000. The bank pays 3.5% annual simple interest on this account Sami did not make any
1 answer:
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Answer:
After 7.04 years the amount will reach $57,000 or more
Step-by-step explanation:
The rule of the compound interest is , where
- A is the new value
- P is the initial value
- r is the rate in decimal
- n is the period of the time
- t is the time
∵ A loan of $36,000 is made at 6.75% interest, compounded annually
∴ P = 36,000
∴ r = 6.75% = 6.75 ÷ 100 = 0.0675
∴ n = 1 ⇒ compounded annually
∵ The amount after t years will reach $57,000 or more
∴ A = 57,000
→ To find t substitute these values in the rule above
∵ 57,000 = 36,000
∴ 57,000 = 36,000
→ Divide both sides by 36,000
∵ =
→ Insert ㏒ in both sides
∴ ㏒( ) = ㏒
→ Remember ㏒ = n ㏒(
)
∵ ㏒( ) = <em>t</em> ㏒(1.0675)
→ Divide both sides by ㏒(1.0675)
∴ 7.035151337 = <em>t</em>
<em>∴ </em><em>t </em>≅ 7.04
∴ After 7.04 years the amount will reach $57,000 or more
Answer:
T = (3,16)
Step-by-step explanation:
The midpoint formula is just another version of the pythagorean theorem, and it states that the midpoint between (x1,y1) and (x2,y2) is
Substituting what we know:
endpoint S is (3,2) and endpoint T is (x2,y2)
Midpoint Z is (3,9). We will apply the formula -- backwards.
, solving with algebra we get x2 = 3
So the x-coordinate of endpoint T is 3.
, solving with algebra, we get y2 = 16.
So the y-coordinate of endpoint T is 16.
So the location of endpoint T is (3,16)